Office Suite with Secured
231 E Saint Joseph St, Rapid City, SD 57701
For Sale
Contact for pricing
A functional office layout is complemented by fenced, on-site parking and access to public transit.
Property Size2,204 SF
Days on Market219
Property Features for 231 E Saint Joseph St
General Information
Standard status
Size
Additional Details
Public Transit
Property Use
Listing Agency:
TRUE NORTH ASSET GROUP
Listed By:
SHANNON BRINKER · License SD #17047
(605) 415-7222
Source:
Exprealty
Added: Apr 9
Changed: Nov 12
Last Checked: Nov 12 at 2:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TRUE NORTH ASSET GROUP
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Investment Insights
Based on property information with market context.
This 2,204 SF office suite at 231 E Saint Joseph St offers a functional layout for office use. Fenced, secured parking is available on site, with additional on-street parking nearby.
The property is near the South Dakota School of Mines and Technology and a short drive from downtown Rapid City amenities, including Main Street Square. Public transit is also accessible nearby.
The property is near the South Dakota School of Mines and Technology and a short drive from downtown Rapid City amenities, including Main Street Square. Public transit is also accessible nearby.
Key Highlights
- 2,204 SF office suite
- Fenced, secured on‑site parking
- Additional on‑street parking nearby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,076
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,520
$421.5K
Cap Rate 7%
$301,086
$301.1K
Cap Rate 9%
$234,178
$234.2K
Market Conditions
NOI Build-Up for 2,204 SF
Gross rent
$33.1K $15.00/SF
− Vacancy
−$5.0K −$2.25/SF
EGI
$28.1K $12.75/SF
− OpEx
−$7.0K −$3.19/SF
NOI
$21.1K $9.56/SF
Area
Pennington County, SD
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,520
Cap Rate 7%
$301,086
Cap Rate 9%
$234,178
Alternative Uses
Best Use
Office B
$301.1K
$263.5K – $351.3K
NOI $21,076 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$399.6K
$349.6K – $466.2K
NOI $27,969 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
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Business Placement
Demographics for 57701, SD
46,258
Population
20,526
Households
2.3
Avg Household Size
36
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
886
Density / Sq Mi
$52,733
Median Household Income
$34,971
Median Earnings
$892
Median Rent
$229,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A functional office layout is complemented by fenced, on-site parking and access to public transit.
Where is this office unit located?
The property is located at 231 E Saint Joseph St Rapid City, SD.
What are key features of this property?
This property features: 2,204 SF office suite; Fenced, secured on‑site parking; Additional on‑street parking nearby
